$100 PS3 price drop expected in August

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Another day, another analyst prediction. This time analyst Arvind Bhatia of Sterne Agee is predicting that Sony will cut the price of the PlayStation 3 in mid-August by $100.

He wrote:

Industry sources indicate Sony is planning a $100 price cut on the PS3 in mid-August, just prior the launch of Madden (8/18) and the start of the back to school shopping season. This will naturally be a positive for the industry.

It would certainly be a positive for everyone in the run up to Christmas in this recession year. A price drop coupled with game bundles and new releases should help stimulate sales and grow the PS3 user base. That will probably have a knock-on effect for Blu-ray sales as well. It also makes the PS3 much more competitive when compared to the Xbox 360, which apparently has maxed out in terms of performance.

These predictions from analysts are just best guesses though, and August is a long way off. If you were going to buy a PS3 soon it’s a long wait and could end up with no price cut being announced after all.